This paper presents a detailed overview of the nature of loss and damage risks affecting low-income countries, marginalised groups and people living in poverty in the global South, and how they might be addressed. Based upon a structured review of existing literature, and a series of deliberative dialogues, key informant interviews and consultations with representatives of affected communities and countries in least developed countries (LDCs) and Small Island Developing States (SIDS), assess the current evidence on the key features of loss and damage risks.